ThredUp Inc. (NASDAQ:TDUP) Short Interest Update

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) saw a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 4,070,000 shares, a decrease of 17.9% from the January 15th total of 4,960,000 shares. Approximately 5.0% of the company's shares are short sold. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is currently 4.0 days.

Insider Activity

In related news, Director Patricia Nakache sold 315,102 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $2.87, for a total transaction of $904,342.74. Following the sale, the director now owns 250,956 shares of the company's stock, valued at approximately $720,243.72. This trade represents a 55.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel J. Nova purchased 30,000 shares of ThredUp stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $1.67 per share, with a total value of $50,100.00. Following the acquisition, the director now directly owns 244,033 shares of the company's stock, valued at approximately $407,535.11. This trade represents a 14.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 84,788 shares of company stock valued at $130,041 and have sold 2,734,538 shares valued at $6,314,066. 34.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ThredUp

Several hedge funds and other institutional investors have recently made changes to their positions in TDUP. Marshall Wace LLP raised its holdings in ThredUp by 134.5% in the 4th quarter. Marshall Wace LLP now owns 1,521,138 shares of the company's stock valued at $2,114,000 after buying an additional 872,357 shares during the last quarter. BloombergSen Inc. boosted its holdings in shares of ThredUp by 278.9% during the 4th quarter. BloombergSen Inc. now owns 639,548 shares of the company's stock worth $889,000 after buying an additional 470,768 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of ThredUp by 75.2% during the 4th quarter. Renaissance Technologies LLC now owns 978,745 shares of the company's stock worth $1,360,000 after buying an additional 420,012 shares in the last quarter. Needham Investment Management LLC grew its position in shares of ThredUp by 7.2% during the 3rd quarter. Needham Investment Management LLC now owns 6,200,000 shares of the company's stock worth $5,220,000 after buying an additional 415,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of ThredUp in the 4th quarter valued at $521,000. 89.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on TDUP shares. Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a research report on Friday, February 14th. Telsey Advisory Group increased their price objective on shares of ThredUp from $2.00 to $3.00 and gave the company an "outperform" rating in a research report on Wednesday, January 15th.

ThredUp Price Performance

TDUP traded down $0.16 during trading on Wednesday, hitting $2.81. 798,355 shares of the stock traded hands, compared to its average volume of 1,266,583. The business has a 50 day moving average price of $1.94 and a 200 day moving average price of $1.30. The company has a market cap of $319.67 million, a price-to-earnings ratio of -4.39 and a beta of 1.75. ThredUp has a twelve month low of $0.50 and a twelve month high of $2.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86.

ThredUp Company Profile

ThredUp Inc, together with its subsidiaries, operates an online resale platform in the United States and internationally. Its platform enables consumers to buy and sell primarily secondhand apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.